| Pre-tax and After-tax Components of Other Comprehensive Income |
The following tables present the tax effects of each component of other comprehensive income for the three and six months ended June 30, 2026 and 2025, respectively:
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Three months ended June 30, |
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2026 |
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2025 |
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Pre-tax amount |
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Tax benefit/(expense) |
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After-tax amount |
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Pre-tax amount |
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Tax benefit/(expense) |
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After-tax amount |
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| Net gain from defined benefit and postretirement plans |
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$ |
466 |
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$ |
(116) |
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$ |
350 |
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$ |
226 |
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$ |
(55) |
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$ |
171 |
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| Net gain (loss) from hedging activities |
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1,284 |
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(321) |
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963 |
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(3,214) |
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804 |
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(2,410) |
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| Foreign currency translation |
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— |
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— |
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— |
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8,582 |
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— |
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8,582 |
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| Other comprehensive income |
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$ |
1,750 |
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$ |
(437) |
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$ |
1,313 |
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$ |
5,594 |
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$ |
749 |
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$ |
6,343 |
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Six months ended June 30, |
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2026 |
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2025 |
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Pre-tax
amount |
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Tax benefit/
(expense) |
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After-tax amount |
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Pre-tax
amount |
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Tax benefit/
(expense) |
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After-tax amount |
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| Net gain from defined benefit and postretirement plans |
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$ |
328 |
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$ |
(82) |
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$ |
246 |
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$ |
225 |
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$ |
(55) |
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$ |
170 |
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| Net gain (loss) from hedging activities |
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2,641 |
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(660) |
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1,981 |
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(8,952) |
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2,238 |
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(6,714) |
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| Foreign currency translation |
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— |
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— |
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— |
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13,113 |
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— |
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13,113 |
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| Other comprehensive income |
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$ |
2,969 |
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$ |
(742) |
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$ |
2,227 |
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$ |
4,386 |
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$ |
2,183 |
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$ |
6,569 |
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The following tables present the changes in accumulated other comprehensive income (loss) (“AOCI”), net of tax, by component for the six months ended June 30, 2026 and 2025, respectively:
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Defined benefit
and other
postretirement
plans |
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Net gain (loss) from hedging activities |
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Foreign
currency
translation |
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Total |
| December 31, 2025 |
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$ |
2,450 |
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$ |
821 |
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$ |
— |
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$ |
3,271 |
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| Other comprehensive income before reclassifications |
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268 |
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2,487 |
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— |
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2,755 |
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Amounts reclassified from AOCI(1)
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(22) |
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(506) |
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— |
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(528) |
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| Net current period other comprehensive income |
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246 |
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1,981 |
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— |
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2,227 |
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| June 30, 2026 |
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$ |
2,696 |
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$ |
2,802 |
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$ |
— |
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$ |
5,498 |
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| December 31, 2024 |
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$ |
1,467 |
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$ |
9,902 |
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$ |
(18,776) |
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$ |
(7,407) |
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| Other comprehensive income (loss) before reclassifications |
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172 |
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(3,545) |
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13,113 |
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9,740 |
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Amounts reclassified from AOCI(1)
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(2) |
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(3,169) |
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— |
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(3,171) |
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| Net current period other comprehensive income (loss) |
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170 |
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(6,714) |
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13,113 |
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6,569 |
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| June 30, 2025 |
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$ |
1,637 |
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$ |
3,188 |
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$ |
(5,663) |
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$ |
(838) |
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(1)See the following table for details about these reclassifications. Amounts in parentheses indicate debits.
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| Reclassifications out of Accumulated Other Comprehensive Income |
The following table presents the reclassifications out of AOCI for the three and six months ended June 30, 2026 and 2025, respectively:
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| Details about AOCI Components |
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Amounts reclassified from AOCI(1)
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Affected line item where
income is presented |
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Three months ended
June 30, |
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Six months ended
June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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| Amortization of defined benefit and other postretirement items: |
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| Net loss |
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$ |
10 |
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$ |
2 |
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$ |
30 |
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$ |
3 |
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Other expense, net(2)
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| Tax benefit |
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(3) |
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(1) |
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(8) |
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(1) |
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Provision (benefit) for income taxes |
| Net of tax |
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$ |
7 |
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$ |
1 |
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$ |
22 |
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$ |
2 |
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| Gains and losses on cash flow hedges: |
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| Interest rate caps |
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$ |
302 |
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$ |
2,085 |
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$ |
675 |
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$ |
4,225 |
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Interest expense |
| Tax benefit |
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(76) |
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(521) |
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(169) |
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(1,056) |
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Provision (benefit) for income taxes |
| Net of tax |
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$ |
226 |
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$ |
1,564 |
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$ |
506 |
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$ |
3,169 |
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| Total reclassifications for the period, net of tax |
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$ |
233 |
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$ |
1,565 |
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$ |
528 |
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$ |
3,171 |
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(1)Amounts in parentheses indicate debits to profit/loss.
(2)These AOCI components are components of net periodic pension and other postretirement cost (see Note 14 to these condensed consolidated financial statements for additional details).
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